Mortgage Market Review – behind the headlines
The reporting implications This is the first of our commentaries on the detail behind the MMR, designed to highlight the less obvious effects on lenders, home finance providers or loan administrators. The MMR project is not just a date in the diary when changes should be implemented, but an ongoing process, that will need embedding […]
Rockstead sponsors IBF conference in Dublin and presents on market opportunities
Rockstead was delighted to sponsor The Irish Banking Federation (IBF) conference in Dublin last week, which focussed on the housing and mortgage market in Ireland and brought together a number of high profile speakers who presented to over 120 attendees. The conference was chaired by Jim O’Keeffe of AIB, who also acts as Chair of […]
More regulatory pressure on lenders
Although it was only last month we commented on the Mortgage Market Review (MMR) implementation, it is important to remember that 2014 will see more FCA policy initiatives involving retail banking, consumer credit and financial incentives. If we reflect on 2013, there were a number of high profile enforcement cases including, amongst others, JP Morgan, […]
Solving the title deeds challenge
The recent activity in property portfolio trades in Ireland has highlighted the lack of attention given to the registering of title deeds by lenders during the boom and this has led to significant problems when it comes to carrying out verifications on behalf of the potential portfolio purchasers. In some cases it has been shown […]
Choosing a Servicer – an independent view
A key decision for any investor in the mortgage and loans sector is who to team up with to service their portfolios. This question is normally asked by the investment team as they start crunching the numbers and modelling the different collection scenarios to establish the potential return on investment. In highly competitive markets, where […]
Regulatory challenges – are lenders truly ready?
As we come towards the end of another year, the focus, particularly in the mortgage industry, remains firmly on regulatory matters. Most lenders are in the final stages of testing systems to ensure they comply with the Mortgage Credit Directive (MCD) which comes into force in March 2016. The industry still has a chance to […]
Vulnerable customers and collections processes
Payment performance, particularly over the last couple of years, is a critical issue for acquirers of mortgage assets. In a continuing low interest rate environment it is essential that existing customers are handled in a compliant manner. There has been recent commentary about the effect an interest rate rise could have on the performance of mortgage […]
Regulatory Risk
More on the Mortgage Credit Directive from Rockstead. A timely warning from the Financial Conduct Authority (FCA) has been issued to both intermediaries and lenders highlighting the inherent dangers that are on the horizon if they are not prepared for implementation of the Mortgage Credit Directive (MCD) by March 2016. From an introducer’s perspective, offering […]
Mortgage books are selling above par – based on what?
Figures released recently by the CML show gross lending in Q2 of 2015 at £52.2billion which is a welcome boost for the industry. The re-entry of investment banks and hedge funds providing funding lines to support the traditional savings model has resulted in mortgage lending levels being at their highest since 2008. Now further funding […]
Embedding the MMR; how well have firms done?
The FCA has released its first thematic review on key findings relating to the quality and suitability of mortgage advice provided by firms since the Mortgage Market Review (MMR) implementation in April 2014. The findings in general were positive. Examples of good and poor practise, particularly relating to the up-front sales process, were identified. Some […]
